USDC

devCheckingIn

My understanding is that it was USDC and USDT that were frozen.

Maleficent-Lie1877

I think services would be an easier starting point than groceries or electronics. People are already used to paying freelancers and consultants digitally, so accepting USDC wouldn't be that big of a leap. The merchant side is interesting too, especially with gateways like Inxy making it easier for businesses to accept and manage stablecoin payments without building their own crypto infrastructure. The bigger challenge is probably getting enough local businesses on board to make the marketplace useful.

jekpopulous2

Binance customers own $129B in coins. Binance has 138.5B in reserves, $1b in the SAFU fund, and $1.85B in their Futures Insurance Fund. They’re also gonna get back about $2.8B in frozen USDT and USDC. So they have about $144B total. That’s a $15B cushion. They also generate $17-18B / year in revenue. Even if everyone wanted to withdraw (which most people won’t) they can cover it.

corporate-citizen

USDT/USDC did freeze a bunch, which they could do to any wallet. I like the concept of irreversible Bitcoin better.

msc1974

And 90% has already been replenished (from Binance): "Since our last update, the covered amount has risen from approximately 80% to 90%. All BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC are fully backed at 100%. We'll keep purchasing the remaining assets through market and OTC channels until the covered amount reaches 100% for all tokens."

Bluejumprabbit

The freeze only reached the USDT and USDC legs because both issuers hold a blocklist function in the contract, Tether killed $1.5B and Circle $800M. The $3.3B that left as BTC and native assets is gone for good, which is the same bearer property people cheer for until it works against them.

rockstaa

As Binance publicly said it could easily reimburse any losses from the hack on Friday, employees were privately expressing doubts to one another that they’d be paid bonuses this year, said people familiar with the matter. The crypto industry is no stranger to malevolent actors. Only a month ago, cryptocurrency exchange Bitget was subject to a cyber-attack that drained $388 million. In February 2025, hackers stole nearly $1.5 billion from cryptocurrency exchange Bybit. But the scale of this week’s attack shocked even industry veterans. Just as the exploit was unleashed, Taylor Monahan, who’s based in Los Angeles as a researcher at the nonprofit security firm SEAL, was on a group chat with other crypto investigators when someone at blockchain security firm zeroShadow sent a message about strange transactions at Binance. “I’m going to remain optimistic that everything’s fine,” Monahan told herself. But she knew that if things weren’t OK, they were very bad. “It’s like a hack — like, a really big one.” By 4:38 p.m. Monahan suspected the worst and contacted Tether, the firm that issues the USDT dollar-backed stablecoin. “In our souls, we knew it was a hack,” she said. Tether responded immediately but didn’t acknowledge that there was an infiltration. Less than 30 minutes later, the firm began the process of freezing the transactions on its blockchain, as did Circle, issuer of the USDC stablecoin. **Scrolling X** Yi He, Binance’s co-founder and co-chief executive officer, was at home in Abu Dhabi when she first noticed something wrong. The executive, who is seven months pregnant, had logged off work and was scrolling through X before going to bed around 12:30 a.m. in Abu Dhabi, 4:30 p.m. in New York. Posts on the social-media site alerted her to trouble. Alarmed, she logged back on and saw that Binance’s security and wallet teams – which are empowered to act on hacks without executive sign off – were already at work, trying to stop more losses. Within minutes, the company created a war room that swelled to about 100 people around the world. Yi and hundreds of Binance employees would stay up through the night, coordinating efforts within the company, with other crypto firms and with law-enforcement agencies including the Federal Bureau of Investigation and the US Secret Service. At 5:15 p.m., Binance publicly acknowledged it was aware of a “potential security issue” and that it was investigating the rumored breach. At 5:18 p.m., Circle CEO Jeremy Allaire announced that the stablecoin company had frozen more than $800 million associated with a “potential exploit involving Binance.” Seven minutes later, Tether CEO Paolo Ardoino announced that his firm had frozen more than $1.5 billion “related to a potential Binance exchange hack.” Soon, crypto companies of every stripe started flooding social media to promise onlookers that they were safe. Binance competitors like Kraken, Coinbase, and Bybit all proclaimed that they were unharmed. Blockchain intelligence firms TRM Labs, Chainalysis and Elliptic have all said North Korea is behind the heist. They observed funds stolen from Binance commingle with crypto seized in the Bitget hack, which researchers had already attributed to the Democratic People’s Republic of Korea. Chainalysis labeled the incident as “the largest in the history of crypto, and one of the single-largest financial crimes of all time.” Still, even as the heist became more widely publicized, hackers continued to drain funds from Binance. The code attackers used gave them access to blockchain accounts owned by Binance and let the hackers empty them, all while exchange funds kept replenishing the accounts. Estimates of the amount stolen crept higher, eventually reaching $6.3 billion. Mainstream Crypto The attack comes at an inopportune time for an industry that is getting unprecedented support from the US government. The Trump administration has been pushing for mainstream adoption of cryptocurrencies and blockchain technology, including through its regulators. In September, the Securities and Exchange Commission approved a rule that allows for public company stocks to trade on blockchains. The Binance hack could undermine those efforts, experts fear. Odysseas Lamtzidis, founder of the blockchain security company Phylax Systems, was on a plane traveling to Miami from New York when he saw a Telegram chat discussing the attack. “It was very scary. I remember breathing heavy, because it was huge amounts of capital moving around and people on the plane were asking if I was OK,” he said. He watched as the attackers moved from one wallet to the next, and kept posting on X to alert users. “I think this is very scary for organizations and adoption of crypto because these types of events should be impossible to happen, not improbable,” he said. “It’s still a Wild West.” Yi and her co-CEO Richard Teng on Friday confronted the potential reputational damage the attack could do. In a video posted on X, Yi promised Binance would continue to work with law enforcement to find the attackers. The company has vowed to reimburse any users who lost funds in the hack. “We won’t let the hackers take away the momentum this industry deserves,” she said in her video post, speaking in Mandarin. “Of course, there are areas where we could have done better. We should have invested more in security earlier, and set stricter standards. Going forward, we won’t hold back, whether it’s investing in security or fighting hackers.” Asked about employees’ bonus concerns, a spokesperson said Binance doesn’t expect any impact there either. In the midst of the turmoil, some traders found opportunity. Morten Christensen, a cryptocurrency trader who also runs AirdropAlert.com, a site that tracks cryptocurrency giveaways, made tens of thousands of dollars on Thursday. He was in Mexico, on a Discord call with six friends, brainstorming strategies to take advantage of the hack. They had decided to short cryptocurrencies, which were starting to drop in value, when his wife walked into his office. He sent her back out. “Binance got hacked, babe,” he said. “Need to lock in.”

chainglance_cm

Crypto works the same, it’s just that exchanges basically turned into banks. Regulators can only really lean on them, so that’s where the passport scans and the “where are you sending it” questions live. The 72h hold is there because bank deposits can be charged back, so they wait until the money can’t be pulled. Do the painful part once. Buy, wait out the hold, then move it to your own wallet. After that, nobody asks you anything. For small payments, use Lightning or USDC on a cheap chain and the fees drop to cents.

2peg2city

No it was withdrawn from their system, the stolen ETH and BTC are not able to be frozen. Quite a bit of thr USDT and USDC was frozen, some was used to borrow ETH and BTC before that happened

HigherandHigherDown

It's a clusterfuck. I don't know whether USDT or USDC have unfrozen coins in similar circumstances before. I'd guess they'll wait for a court order to do anything.

brows1ng

You’ve probably seen by now, but they deposited it into Aave and took a loan out in ETH using the USDC/USDT as collateral. When the collateral got frozen…the hacker already withdrawn the ETH, which cannot be frozen. Such a simple move, but you need to know what you’re doing to have planned that part out - smart on their part.

Duedrama6197

This is a no equivalence. If a bank gets robbed, they’re insured and no one loses any money other than the bank. Good chance binance can cover/recover the USDC which I think is about 1.5B, but the rest is gone gone.

Skyobliwind

Well Binance had the reputation to do insider trading and money laundering with their hot wallets, so maybe it was also some of that money stolen. With thoses amounts tho, definitly not all customer funds can be safe. We'll see what they'll announce within the next days. At least the USDC and USDT were frozen and may be reocverable.

TheFamousHesham

Upvoted... but I do find it interesting that the USDC amount is in line with what was tweeted by CZ as being safe while the USDT amount is much higher than what CZ was tweeted as being safe. That is concerning. There is a potential situation where there is $500M in USDT that's been stolen (the different between the $1B CZ marked as safe and the $1.5B mentioned in the image). It could also just be nothing and CZ may have tweeted outdated information on the true value of funds frozen by Tether.

Competitive_Swan_755

It's called freeze & sieze. You should be aware if it. It's a "feaature" of USTD and USDC.

SlowInvestor

**Before everyone panics over the "$5.6B Binance hack" headlines, here is the actual math:** **Total Reported Outflow:** \~$5.6B **Already Frozen:** Over **$2.4B–$2.5B** in stablecoins (USDT & USDC) were locked down by issuers within hours. **Actual Uncontained Outflow:** \~$3.1B **Binance Total Reserves:** \~$140B–$150B+ The nominal number sounds massive, but the unrecovered amount represents **\~2.1% to 2.3%** of Binance’s total held reserves. It is a serious hot-wallet incident, but nowhere near a solvency crisis. Check the data before panic-selling.

RuckFeddi7

but but but but i get juicy interest for keeping USDC in coinbase

Alatarlhun

Fair. ETH is more decentralized than just about anything. I wonder what AAVE's docs say about the risks of having its USDC money market frozen funds by the issuer.

feltusen

Its shit anyways. Bitcoin is shit, USDC is shit and ETH is shit

pplgg4445

From Bala on X the binance hacker just did something genius and it should scare you tether froze $1.5 billion in stolen USDT. circle froze $800 million in USDC. everyone's celebrating like the problem is solved meanwhile the hacker deposited the stolen USDT on aave, borrowed ETH against it, and walked away. because USDT can be frozen. ETH can't he's never paying it back. he doesn't need to tether and circle just proved they can freeze billions in seconds. and the hacker just proved that if you know how defi actually works, none of that matters the freeze saved some of the money. but the smartest money was already gone before anyone pressed the button

AutoModerator

Post is by: Holywizy and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoMarkets/comments/1xj0uys/binance_appears_hacked_billions_left_its_hot/ here's what's actually confirmed so far vs what's just numbers flying around: confirmed: \- binance paused withdrawals on several networks after a "security incident" and says it's investigating \- binance says user funds are safe, but hasn't confirmed a breach, cause or amount yet \- CZ posted that it "does look like a hack" and that he expects users to be fully covered (he doesn't run binance anymore though, he's the largest shareholder) \- tether and circle froze roughly $1.8B+ in USDT/USDC linked to it not confirmed: \- the amount. estimates go from \~$2.5B to \~$5.8B, some of the bigger numbers include outflows nobody has tied to the attacker yet \- how it happened \- whether binance will use the SAFU fund if it's really in the billions this beats bybit (\~$1.5B in feb 2025) as the biggest crypto hack ever. also watch out for "binance refund" scam links today, they always show up after something like this. only trust binance's official channels. anyone here with funds on binance right now? full breakdown, updating as binance confirms more: https://holywizy.com/blog/binance-suspected-hack-billions-hot-wallets-withdrawals-paused/ *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

meccaleccahimeccahi

For context for others: More than $2 billion in ETH and tokens left Binance hot wallets on Thursday for an address created hours earlier and funded through Tornado Cash. Changpeng Zhao said "It looks like Binance was indeed hacked," while Binance itself has said it is investigating but has not officially acknowledged a breach. Estimates vary, with researchers putting outflows as high as $2.77 billion across five blockchains Much of it is already locked up. Tether froze about $971 million in USDT and Circle froze about $823 million in USDC, but about 167,000 ETH also moved, which can't be frozen. Binance says user funds are safe, and CZ said that as a shareholder he expects all user funds to be fully covered. Markets reacted anyway: Bitcoin fell below $79,000 and ETH under $2,240, with $627.7 million in liquidations in a single hour FWIW, nobody has claimed that AI is what hacked it, but I am inclined to agree with OP on that.

omni_wisdumb

Anyone who's been around this space since even 2012/13 knows crypto has become nothing more than a digital casino being controlled by a relatively small group of firms, nations, banks, and companies. All stable coins are fully controlled by the energy that created them, same goes for pretty much every coin other than BTC (which also could theoretically be the case ). The space wants to hate or form conspiracies on banks and how the government or secret groups control them, but then they're cool with XRP and USDT and USDC and the coins (even ETH) that can be edited by their founders. Then there's the whole debate about Quantum and AI hacking and what not. There's also the point that, unlike your bank, most of these coins are unregulated and not backed by anything.

Alatarlhun

Tether and USDC are centralized so they can freeze the funds and issue new funds. Yeah, it i is as bad as it sounds for regular people while bailing out Binance's ass.

filthy_harold

The international version of polymarket operates outside of CFTC oversight and uses USDC crypto as it's currency. The US version has oversight as a futures trading market (lol) and takes regular USD.

RedKe

Only if it offers benefits over my regular debit card and if it is converting my USDC balance 1:1 to USD for the payments. I wouldn't trust the exchange rate if non-stablecoins are being converted to USD.

AutoModerator

Post is by: Malwarebeasts and the url/text [ ](https://goo.gl/GP6ppk)is: https://www.infostealers.com/article/polymarket-breach-alert-wallet-draining-code-found-in-a-third-party-script/ Heads up to anyone who has traded on or visited Polymarket today. Security researchers at Hudson Rock just published an alert detailing a supply chain compromise that directly targeted Polymarket users via a third-party performance-monitoring script. Here is a breakdown of what happened, how it worked, and what you need to do: # What Happened? Polymarket was using **DebugBear RUM** (a tool normally used to track site speed and performance). The hosted CDN script for this integration (`cdn.debugbear[.]com/...`) was altered to include a custom wallet-draining and asset-theft payload designed specifically for Polymarket’s web app. # How Did the Drainer Work? Instead of just logging latency, the injected JavaScript: 1. Checked for active, logged-in user sessions in the browser. 2. Hooked into Polymarket’s frontend trading client and signer instances. 3. Inspected the user's open positions and available portfolio balances. 4. Attempted to liquidate/sell positions and siphon the proceeds out to an attacker-controlled fallback wallet. # Financial Damage * At least one trader has already reported an **$800,000 loss** tied directly to the incident. * The fallback wallet address hardcoded in the malicious payload currently holds **over $2,000,000**, though total losses across all victims are still being tallied. # Current Status & Remediation Polymarket pushed an emergency production build removing the dependency entirely (commit log: `chore(polymarket): remove debugbear rum script (#15337)`). Subsequent homepage snapshots confirm the script reference has been removed from the live site. However, how the CDN or DebugBear account was initially breached, the exact window of exposure, and how many browser sessions executed the payload before it was pulled remain unconfirmed. # Recommended Actions: * **Check your Polymarket activity:** Verify your order history, active bets, and USDC balance immediately. * **Review wallet approvals:** If your connected Web3 wallet interacted with Polymarket during the incident window, use tools like Revoke(.)cash to check and revoke any suspicious token approvals or session permissions. * **Clear site cache/data:** Force-refresh and clear browser cache/cookies for Polymarket to ensure no stale cached scripts linger in your browser session. Will update as official post-mortems or further statements come out. Stay safe out there. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

mrshanu89

Inxy sounds like an interesting option for businesses looking to accept crypto payments. I like that it supports stablecoins like USDT and USDC, which can make payments more convenient for international transactions. I’d be interested in learning more about how easy it is to integrate Inxy into an existing business and what fees merchants can expect.

jawanda

No. They're stupid, but that's not how the scam works at all. People regularly transfer between accounts. They're purposely trying to send back to their other account. Aka... send $50k to my trading account. Do some trading. Go to send $60k back (they're stupid but good at trading lol) . Instead of going and copying the source account directly, they look at the $50k transaction in their history and copy the account from there. Only the address they copy is from a fake, duplicate $50k transaction sent by a scammer, which has no actual value because it's a different worthless coin called "USDC".

jawanda

They're not copying it from a block chain explorer, they're doing it in their wallet right? They see "their" most recent deposit, the address looks the same (first and last) and the amount is identical, except it's fake USDC. They then send crypto to that address.

grateful_boy

I definitely use an atl accepting stablecoins for purposes it bringing and for any kind of exchange I would rather hold it than spending. If I left with no options I would use it for services - actually for that case I could use a platform called Inxy for crypto transactions. And USDC only is my standard.

Bluejumprabbit

You solve the spending control at the wallet layer with session keys, give the agent a key capped at say 50 USDC a day with a per call limit and an allowlist of contracts it can touch. Coinbase's x402 already does pay per request over HTTP 402 so the agent settles tiny USDC amounts inline, the guardrail is just how tight you scope that key.

Sklar_Shuja

This is unironically one of the most practical real-world use cases for crypto right now. Humans don't necessarily need to pay for coffee on-chain, but AI agents paying other agents fractions of a cent in USDC for compute, data, or API access is a massive unlock once the permissioning layer matures.

TheFrayedImmunity

Being able to use the same USDC balance on Pump fun for different chains sounds pretty nice for mobile tbh

NetEquivalent4669

Well for myself, no because I am trying to move money around to invest it after hours. For sending money to people yes both of those are great. I keep my cash in robinhood to earn 3.5%. If Crypto takes a tumble after hours and I want to buy the dip, I need to buy USDC from Robinhood and send it out. I can only do that with crypto. Otherwise I have to wait until market open and even then, it will take 3 or 4 days for my funds to settle.

OrneryQuorum414

Kraken's fee structure is rough for small positions, no way around it. dYdX runs on layer 2 and the trading fees are basically nothing, just gas for moving funds on and off. you'd need to bridge USDC over but once it's there you can open shorts with way less getting eaten by the platform just know the spreads can get a little weird during volatile moves but for a trade that size it's probably your best bet

theusedcomputers

Yes. You can receive payments in BTC and get USDC or get BTC all very fast.

theusedcomputers

This will change. Only crypto can solve the microtransactions Ai agents are making. Disclosure: I’m working on InVastor, where we’re building this around agents buying and selling services under owner-approved budgets. InVastor Coin is an ecosystem payment option, alongside supported crypto, with USDC settlement intended to keep sellers from taking unwanted token-price exposure.

theusedcomputers

I respectfully disagree. With Ai, we have now come to the point where crypto actually works. There are many micro transactions that Ai agents will need to conduct. Trillions daily. Visa/Mastercard charge 2.9% + $0.30 per transaction. Crypto charges $0.00001 or less per transaction. As more agents take over, the usefulness of crypto will become apparent. Disclosure: I’m working on InVastor, where we’re building this around agents buying and selling services under owner-approved budgets. InVastor Coin is an ecosystem payment option, alongside supported crypto, with USDC settlement intended to keep sellers from taking unwanted token-price exposure.

theusedcomputers

I think agent payments are a logical next step, but crypto is only part of the solution. An agent also needs spending limits, proof that work was delivered, and a way to handle disputes. Disclosure: I’m working on InVastor, where we’re building this around agents buying and selling services under owner-approved budgets. InVastor Coin is an ecosystem payment option, alongside supported crypto, with USDC settlement intended to keep sellers from taking unwanted token-price exposure. For microtransactions, our approach is to fund a capped budget, meter accepted work, and aggregate small amounts before settlement—not send a blockchain transaction for every API call. For example, 1,000 accepted results at $0.001 each become $1 to settle, while preserving the fractional accounting. We’re still rolling out and verifying the live flows, so I wouldn’t claim everything is already operational. But I think bounded agent commerce is much closer than completely independent AI businesses. Crypto can make settlement easier; it doesn’t remove the human/business responsibility or KYC requirements behind the agent.

Bluejumprabbit

Ethereum still holds most USDC but the growth sits on Base and Solana now, Base mostly because Coinbase routes its own flows straight there. Track how much of each chain's supply is natively minted, a chain running mostly bridged USDC is leaning on Ethereum liquidity and can drain fast the moment yields shift.

TonsilsDeep

Decentralized exchange. Transfer to anonymous crypto like ZEC or XMR. Transfer to USDT-USDC if you want to keep the dollar value the same. Non taxable and untraceable. You're welcome. The only taxable event after would be transferring into fiat.

AggravatingPickle559

However, if you just wanted to pull it out and keep it in USDC or USDT until you wanted to re-enter the market again, would that be a taxable event as long as you didn't pull it out in cash?

No_Knee3385

RWAs are just tokenized to my knowledge, I don't think you need identity anythings on chain. You can move them around just like USDC or any stable. IF you want the underlying asset, then you need to give your identity but otherwise, you're responsible for your own taxes

AutoModerator

Post is by: No-Exercise4586 and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoMarkets/comments/1xe9x9g/momentum_signal_is_real_but_eaten_by_costs_is_the/ I built a backtesting lab with preregistration, out-of-sample splits, and a cost model measured from real order-book data. Over 3 years of Binance USDⓈ-M futures (12 symbols), I tested \~25 ideas: cross-sectional momentum, funding carry, taker-flow imbalance, liquidation reversal, spot-futures basis, cross-predictability, clock-phase effects. Consistent finding: **several signals have a small positive gross edge (\~8 bps per trade), but round-trip taker cost (\~15 bps) kills them.** Own-asset momentum (14–28d) is the most robust, surviving out-of-sample with modest Sharpe, but net profit is thin after costs. My measured order-book data suggests maker execution on USDC pairs could cut round-trip cost to \~4 bps, which would flip some signals positive — but maker fills carry adverse-selection risk (you get filled right when price turns against you). **Question for those who've actually traded live on a retail account:** is the edge ever in the signal, or is it entirely in execution (maker vs taker, venue, timing)? Has anyone made a simple momentum or cross-sectional system net-profitable after real costs? Or is the honest answer that retail price-based edges just don't survive costs without HFT-level execution or structural advantages? Genuinely trying to learn, not sell anything. Happy to share my methodology. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

Bluejumprabbit

5% on T-bills is the competition for every stablecoin farm paying single digits, when the risk-free rate climbs a lot of parked USDC leaves DeFi for a money market fund. If you still want onchain yield that holds up, Boros lets you trade the funding rate directly so you're not just eating whatever the lending pool pays.

troysrus

When you sell your Bitcoin, you’ll owe a significant chunk in capital gains tax the following year. Borrowing against it isn't a taxable event. If you don't want a centralized lender like Ledn holding your keys, you can use a non-custodial DeFi protocol like Aave (using wrapped BTC like cbBTC or WBTC) to borrow USDC at \~4–6% variable APR. You can borrow up to \~70%, though keeping your LTV around 25–35% is much safer to avoid liquidation during dips. Since Bitcoin tends to outpace a 5% borrow rate over the long run, your LTV naturally shrinks as BTC appreciates—meaning you can roll the debt indefinitely without ever selling your stack. Look into the 'Buy, Borrow, Die' strategy.

tenor_tymir

It’s not really that different. I use it because I get me more cashback than anywhere else. I use MiniPay and the debit card gives me cashback in USDC @ 5% per purchase. That’s pretty good in the basic tier without any requirements at all.

CrazyRaccoonUK

BTC to USDC transfer bits onto crypto Debit card not held with an exchange. No tax to pay.

No-Masterpiece2246

Knowing what a cryptocurrency is and isn't doesn't require any "philosophical debate". It's just a skill issue on your part of not knowing how these technologies work. Bitcoin is mined and decentralized via a peer to peer node and mining system, like many other cryptocurrencies (BCH, DOGE, LTC, XMR, etc). Stablecoins are not mined and they're not decentralized. If you don't understand it, don't worry about it. Nobody is using DAI, and it's not proven to be stable or even safe yet. Probably flawed at the spec level because there is no actual fiat backing it. But who cares, USDT and USDC are the stables that are used for 99% of the time.

Altruistic_Ranger_57

setting a target of 0.5 makes a lot of sense. Switching out of the "all or nothing" mindset really does change daily life for the better. If you start putting some time or money into a good trainer or just a hobby you actually care about, it gives you something different, something valuable that wont ever show up on a balance sheet. ive got my own version of this. Keep a little separate stash thats just for regular spending. i put it on Walden Pay, which is this prepaid crypto card you load up with USDC. Can use it when im out at shops or buying stuff online, wherever. Makes me feel like im actually using crypto, not just watching it collect dust while my nerves build up. Helps me leave my main stack alone too. hope this next phase treats you well. 0.5 in your stack and some actual breathing room in life, sounds good to me

pitalik

The $6.5b USDC on hyperliquid also earns yield for the ecosystem. ~3.3% after circles cut and expenses. ~$15m a month in usdc which goes straight into buybacks and burns

stay_safe_and_calm

Just use non-KYC exchanges and swap your BTC for USDC or USDT. Then transfer smaller amounts of your USDC to a crypto debit card (such as Krak card) and use it for your daily spendings.

papatoshi

Use https://lava.xyz to get a USDC loan against your BTC, no tax hit

Quiet_Chemical_5773

bitcoin has longish confirmation times. crypto exchanges have hidden spreads, fees, so buying 350 doesnt get you 350 worth. fastest transfers are on solana network, best choice to pay is like buying USDC and sending it via solana, seconds for transfer completion

anwelxyz

The rate isn't even the worst part — it's redefining a swap into USDC as "cashing out". You still hold full crypto exposure, you haven't seen a single euro, but the tax bill is real money. All this does is punish rebalancing and push active traders toward friendlier jurisdictions.

polymath_uk_

The use case is a decentralised, untrackable, cross border payments, anonymous coin with a reasonably fast settlement and a reasonably stable price. In other words, Monero. What does all this complication with Solana add to that exactly? I mean I could definitely see a use-case for a USDC-like stablecoin with complete anonymity, but this isn't that.

PuzzleheadedHuman

On liquid pairs, yes, that 0.85% is most of what the trade costs you. Orca's SOL/USDC pool holds about $29.5M and did around $142M of volume yesterday, so a $1,000 swap barely moves it. Apart from the pool's own small fee, the wallet fee is the bill. It flips on smaller tokens. I work on DEX data at DexPaprika and wanted to know where the crossover sits, so this morning I took the 600 most-traded Solana tokens. The median one has about $105K of DEX liquidity in total. If that all sat in one plain constant-product pool, a $1,000 buy would lose roughly 2% to price impact. That's already more than double the wallet fee, and it grows with trade size while the wallet fee stays flat. So the line to read on a quote is price impact, not just the fee. On deep pairs, the fee is what you're optimizing. On thin ones, it's your trade size.

AutoModerator

Post is by: ChikoJjjj and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoMarkets/comments/1xbi6j9/research_demystifying_perpetual_funding_rate/ Hey r/CryptoMarkets, With the continuous chop and volatility across the crypto markets, many traders lose significant capital trying to time directional moves on leveraged futures. Over the past few months, our team has been benchmarking cross-exchange perpetual funding rate discrepancies across 31 exchanges (Binance, Bybit, OKX, Gate, MEXC, Hyperliquid, dYdX, etc.). We wanted to document how delta-neutral funding rate arbitrage actually functions under the hood, analyze realistic yields, account for exchange fees, and outline the exact risks people often fail to mention. --- ### What is Delta-Neutral Funding Arbitrage? On perpetual futures, there is no expiration date. To keep perp prices pegged to the spot index, exchanges use a **Funding Rate** mechanism: - If perp price > spot price (bullish skew), funding is positive: **Longs pay Shorts** every 8h (or 1h/4h). - If perp price < spot price (bearish skew), funding is negative: **Shorts pay Longs**. Because each exchange has a distinct user base, open interest, and margin system, funding rates on the exact same token can diverge dramatically between venues. **The Strategy:** 1. Open a **Short position** on Exchange A (where funding is high positive, so shorts receive cash). 2. Open an equal-sized **Long position** on Exchange B (where funding is lower or negative). 3. **Net delta:** $(+1) + (-1) = 0$. You are completely indifferent to whether the token skyrockets 300% or plummets 80%. 4. You collect the funding spread every settlement period directly in USDT/USDC. --- ### Real-World Example & Mathematical Breakdown Let's look at real live numbers taken from active cross-exchange books: - **Pair:** `BTW/USDT` - **Exchange A (Bybit - Short):** Funding = -0.510%/day - **Exchange B (MEXC - Long):** Funding = -0.725%/day - **Net Spread:** `+0.215% per day` (~78.2% Annualized APR) #### Accounting for Friction & Fees: Many people forget that entering and exiting two positions incurs 4 trading fees: - Exchange A: Entry Taker fee (0.04%) + Exit Taker fee (0.04%) = 0.08% - Exchange B: Entry Taker fee (0.04%) + Exit Taker fee (0.04%) = 0.08% - Total round-trip fee: ~0.16% – 0.25% of position notional. With a daily net spread of +0.215%, the **Payback Period** is: $$\text{Payback} = \frac{0.25\%}{0.215\%} \approx 1.16 \text{ days}$$ After roughly 28 hours, all trading friction is paid off. From day 2 onward, every funding interval generates pure market-neutral cash flow. #### Simulated Returns on $2,000 Capital ($1,000 per leg): - **7 Days:** +$15.00 net - **30 Days:** +$64.30 net - **1 Year (extrapolated):** +$782.33 net (~78% return on capital without directional exposure). --- ### What Can Go Wrong? (Risk Checklist) Don't let anyone tell you this is "100% free money without any risk". The strategy is market-neutral, but execution risks exist: 1. **Liquidation on One Leg (Margin Imbalance):** If you use 10x leverage and the token surges 15%, your short leg will be liquidated even though your long leg is deep in profit. *Mitigation:* Use low leverage (2x to 3x max) and keep spare collateral on hand. Always monitor your Liquidation Buffer Ratio ($LBR > 40\%$). 2. **Funding Convergence / Flip:** Funding spreads fluctuate. When traders spot the anomaly, arbitrageurs enter and the spread compresses back toward zero. *Mitigation:* Have automated alert triggers when the spread drops below threshold so you can unwind both legs simultaneously. 3. **Slippage on Illiquid Altcoins:** If the 24h volume on one venue is under $500k, market orders can eat up several days of funding profit. *Mitigation:* Stick to pairs with verified 24h depth > $1M. --- ### Tools & Open Live Scanner If you want to track real-time spreads across 31 exchanges without building your own CCXT polling scripts: - We built a live scanner: [Funding Finder Web Terminal](https://funding.up.railway.app) - You can also test it inside Telegram as a Mini App: [@fundinganalyzerbot](https://t.me/fundinganalyzerbot/app) - Interactive bot commands: `/top` for active spreads, `/calc 1000` for net profit calculations, `/arb <coin>` for specific tickers. - Community and discussion: [t.me/fundingfindersupport](https://t.me/fundingfindersupport) Happy to answer any questions about the math, CCXT normalization, or perpetual funding mechanics in the comments below! *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

Non-essential-Kebab

no. you're being taxed on un-taxed income/profits. cashing out in most places is also a taxable event, however the "profit" from converting USDT/USDC to Euro is almost nothing (especially after fees) as the only difference is the exchange rate - which might have even gone down in the interim

Quant_Helixon

Funny how this specifically targets MiCA regulated stablecoins like USDC/EURC while non compliant ones might escape it for a while. Traders are just going to find workarounds, and it completely defeats the purpose of regulatory clarity.

Salty-Technician-633

The French government seeing you swap BTC to USDC: "Is that the sweet scent of taxable revenue I smell?

Bluejumprabbit

This passed by a single vote, 38 to 37, and it treats a swap into USDC or EURC as a taxable disposal at the full 31.4% flat rate, 12.8% income plus 18.6% social charges. French holders who parked in stablecoins to delay the fiat offramp tax lose that move, the trigger is now the conversion itself.

HumblestofBears

AI agents already favor USDC on Coinbase for their interagent operations. They can do things to data you cannot fathom, and could realistically bring down the entire banking system we have known for years with their ability to completely overwhelm safeguards in the systems that humans can't work fast enough to exploit.

supervisionado

Just the payment system has a shitty ux bro. I coded recently a payment system for a service on telegram, and one of the things I had in mind was possibility of accepting payments with native token of any chain that accepted USDC or USDT on it. It's just obvious to me. And no wallet connection required. Requesting wallet connection is nice to code on the UX, but there were a lot scams on crypto... people some times have fear to connect. Even thought just connecting doesn't make any transfer/authorization automatically possible.

thib_

in some cases, if you make a BTC->USDC->EUR transaction, there is a risk of double taxation. Some stablecoins like USDe might not be affected (falls under ART rules)

Silver_Corgi1848

Freelancer here, two overseas clients pay me in USDC because a wire takes days and eats a chunk in fees. That's the one case where it actually beats the bank. For regular stuff I just cash out to a card, I've never paid for anything directly with BTC. In the US every purchase counts as a taxable sale, so a coffee turns into capital gains paperwork. Nobody wants that.

Sea_Camel7156

Wenn der Euro crasht hab ich lieber USDC im Portmonee

flying_cactus

Most vendors in the US will take USDT or USDC on Eth. You should ask the vendor first what asset they want payment and on what chain. Most companies cant take on the risk of holding ETH so they prefer payment in stablecoin. If you were on a CEX, just sell the ETH for USDT and then withdraw to the vendor’s wallet, it will cost fees. If you are trying to do this on chain, then you need to deal with gas, swaps, and all of that.

crushplanets

The bot hits a website that offers something useful. The site says "that'll be 2 cents." The bot pays instantly, in a digital dollar (USDC), and gets the data. So you tell an agent "find me a good deal on flights to Tokyo." It might pay a data service 3 cents for current fare info, then pay a second AI 5 cents to compare the options. Total cost: 8 cents, spent automatically, in a few seconds.

JuriJurka

„why did your account get closed?” I also want to know that I get weekly payout money from a payment provider and can also provide the payout statement etc. It’s USDC. I got paid by them for years now and never had a problem. I still payout now with OKX and Bitvavo. OKX is literally EU regulated and I have 0 troubles there. Binance is literally stealing my money right now. I can’t comprehend this malice either. I am from Germany.

GiraffesAreSoCute

They're just scam tokens. They spend money sending them because one successful scam covers their upfront cost with enough to do more. Or they just want to spread the token across many wallets so that when they advertise their shitcoin it "diverse" and "wide" ownership. There's no risk with interacting with them really. But there's also no reason to. There are multiple ways to pull this kind of scam off, usually the idea is to just someone interested in the token and buying them. Or they send a fake USDC token in hopes that you buy the wrong one when swapping in your wallet app or something. Or as I said earlier, they just want to make it look like their shitcoin has mass ownership and "adoption" so that they can fool others. But there's not inherently anything risky with interacting with them. There used to be old-wives-tales of people "drained" from selling a scam token or whatever. All those stories inevitably end up as just being people who got scammed by some more embarrassing way and covering up. Approving a scam token only allows for that token to be used. Anyway, just ignore them. You'll get them all the time. Forget them.

Tall_Setting_3998

I’d use stablecoins for services and bigger purchases if local ATL businesses accepted them easily. Tools like Inxy (licensed B2B crypto payment gateway for accepting/sending/exchanging USDT, USDC, etc.) seem perfect for making that happen without the usual payment headaches.

DarkChurro

Learn about liquidity pools on Uniswap or Aerodome. Best place to start is USDC/ETH.

VastJuice2949

I have a card with GoMining. Use it daily and it feels exactly the same as a bank card when I tap with my phone. Actually spending BTC and USDC feels good

quintavious_danilo

Definitely changed, I only use USDC on Base

jawni

I use my Coinbase Card quite a bit. It works mostly the same as any other card but to pay the balance it draws from the crypto I hold on CB, which is just USDC from taking profits, that is parked in Morpho earning 7% until it gets taken for payment. The cashback is only good if you're holding thousands of assets on Coinbase and the rewards are meh, but if you want an easy way to take profits and have it earn a solid yield until it gets spent, then it's not bad.

quintavious_danilo

What do you mean by using only Celo? It operates on Celo, yes, but stablecoins can be sent from several networks. I typically purchase USDC from an exchange and transfer it to Minipay on the Basechain. I avoided Oobit because of higher fees, and I prefer not to earn cashback in the Oobit token. They offered no option to receive rewards in USDT to me.

quintavious_danilo

I use MiniPay and receive 5% cashback in USDC on USDC spending. Using a direct debit card makes no difference.

quintavious_danilo

I use MiniPay and receive 5% cashback in USDC on USDC spending. Using a direct debit card makes no difference.

FeelingCombination55

One of the ways we're thinking of trying to meet this best of both, is having our own L1, and whilst a user has their fiat with us, we mirror their funds on-chain, and can easily allow them to go back and fourth, with the mirrored assets being in self custody and always redeemable (with the fiat being insured), similar in a way to how circle/USDC works.

Bluejumprabbit

Zero fee here just means Samsung is eating the cost, USDC settlement on Solana is already sub cent so the fee was never the blocker. Getting a stablecoin wallet baked into Samsung Pay by default is the part that moves volume, that's distribution to hundreds of millions of phones.

eastwill54

The part most people miss is that the merchant never touches the stablecoin. They get paid in their own currency like any other Visa sale, and the stablecoin only changes how the issuer funds and settles with the network. A company whose revenue already lands in USDC can spend straight from that stablecoin balance instead of off-ramping to a bank first. Altitude offers a corporate Visa card that draws on a prefunded USDC account, with no credit line behind it. That use case, businesses with onchain revenue paying for real-world things, is probably where these cards grow fastest.

AutoModerator

Post is by: ashishxo and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoMarkets/comments/1x2bvdu/best_way_to_sell_usdc_to_cad_bank_transfer/ Hello, I’ll be receiving some USDC very soon, and would want to know what is THE most efficient and cheapest method to convert USDC and deposit it into my Canadian bank account. I’m not too knowledgeable about crypto, but want to avoid fees as much as possible. I don’t have an issue with withdrawal taking a few days to land into my bank. Thanks *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

AutoModerator

Post is by: marshallxfogtown and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoCurrency/comments/1x29sbq/how_do_we_feel_about_cbbtc_and_wbtc/ So I recently sold some of my profit on my BTC investment, it was not much, but it was 25% of my BTC holdings because I was up over 30%. Now I've got this USDC sitting earning interest in Aave, learning about DeFi, and have been noticing i could keep my "BTC" on chain and save money in swap fee's, and potentially trade the swings in BTC price for a lot cheaper than if I were to use Thorchain for native BTC swaps... I've been enjoying keeping my BTC self custody and have avoided introducing it to any CEX's so far since acquiring it, so I just wanted to get the publics current opinion on holding cbBTC or WBTC for my purposes, especially if it is only 25% of my BTC holdings.. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

Initial_Note_5987

I can add BTC GoMining Token USDT or USDC but all my funds for it are held on their app before being loaded onto the card

Ammused-Muffin-6942

Just let it appreciate in value and liquidate when I’m ready to buy a sailboat. I also thought about using BTC as collateral to borrow USDC and use USDC to reinvest into ONyc and profit from the spread but I’m concerned about lending out my BTC.

UtahImTaller

I only speculative trade one coin. Sold all of it 2 days ago after like 400% over the course of about a week.  So right now all I hold is USDC till I feel like buying back in.

AutoModerator

Post is by: chainglance_cm and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoMarkets/comments/1x0udgi/why_hype_is_surging_and_what_could_crash_the/ If you've been on crypto twitter at all lately, you've probably seen the hype around HYPE (yes, I did that on purpose). And since it started pumping, everyone's doing the usual thing, zero research on what it is or why it's going up, and just shilling the fuck outta it or getting shilled.  If you've been watching from the sidelines with some FOMO but want to understand what's actually driving this before you make a move, I did some research and here's why HYPE is suddenly so big (feel free to add or correct anything).  **What Hyperliquid is** Hyperliquid is a perp DEX, and it's the one that finally made on-chain perps feel as smooth as trading on Binance. Instead of building on top of an existing chain, the team built their own L1 designed purely for trading, with a fully on-chain order book. That's what lets it match CEX speed and fees while you still keep your own keys and skip KYC entirely. That combo is why volume migrated over so aggressively, and today it handles a huge share of all on-chain derivatives activity. It makes money the way any exchange does, through fees on every trade. **What HYPE is** HYPE is Hyperliquid's native token. You can stake it to help secure the chain, use it to vote on protocol changes, and holding it gets you lower trading fees. The real reason people care, though, is what the exchange does with its revenue. **How the buybacks work** Hyperliquid uses its trading fees to buy their own token, HYPE, off the open market and then burns it, which means those tokens are gone for good. It's basically what Apple does with its stock as well. Buy back shares, fewer left in circulation, each one owns a bigger slice of profits.  So more trading means more fees, more fees mean more HYPE bought, and the circulating supply keeps shrinking. There's a buyer in the market every single day that never sells. And since in HYPE’s case, the bought tokens get burned, there are fewer HYPE left over time. If demand stays the same but there are fewer tokens to go around, the price goes up.  In one recent 24-hour window, Hyperliquid bought and burned 112,580 HYPE, worth about $10.15 million. Total removed so far is roughly 49.25 million HYPE, around $4.45 billion worth. **The second, bigger buyback engine** This is the main catalyst behind the recent run. Every leveraged position on Hyperliquid needs collateral, and most traders use USDC for that. Add that up across the whole platform and Hyperliquid is sitting on billions in USDC at any given time, all of it earning yield. For a while that yield wasn't doing anything for HYPE holders. Then in August, Hyperliquid switched on a system called AQAv2, which sends 90% of the yield from roughly $5 billion in USDC reserves straight into automatic HYPE buybacks and burns. It went live on August 26, with the first payout scheduled for October. So now HYPE has two buyers working at the same time, one funded by trading fees and the other by yield on deposits. The more the platform gets used, the harder both of them buy. **What else added fuel** While AQAv2 is the biggest catalyst behind the recent surge, a few other events added even more momentum. Hyperliquid launched tokenized NVDA, QQQ and SPY that trade 24/7, pulling in people who'd never used a perp DEX. US regulators also gave tokenized stocks a lot more legitimacy this year. The SEC and CFTC put out guidance in January and March, and in September the SEC announced a five-year exemption for platforms trading tokenized securities. None of it approves Hyperliquid directly, but it took the whole category out of the gray zone. On the TradFi side, Bitwise and Grayscale launched spot HYPE ETFs (huge credibility booster), so every dollar going into them buys real HYPE. And Bloomberg just listed Hyperliquid's perps on its Terminal, putting it in front of basically every fund manager (more credibility). All of this means more volume, more fees and more USDC sitting as collateral, which all ends up as more HYPE bought and burned. Open interest just hit a record $18 billion. **What could go wrong** Things look really promising right now, but there are a few risks that could stall the run or kill it entirely. Hyperliquid Labs is selling 3.75 million HYPE (about $340 million) OTC to a single unnamed institution. The whole bull case is built on supply shrinking, and this adds more than a month's worth of burned tokens back into circulation in one go. It won't hit the order book directly, but OTC buyers often get a discount and can sell for a quick profit once they're able to.  On top of that, the team selling a big bag right as the price nears ATH doesn't exactly scream confidence. And plenty more supply is still locked, so this won't be the last time. All USDC on Hyperliquid comes in through a bridge, and bridges are among the most hacked contracts in crypto. A hack would hit user funds and the reserves funding the new buybacks. The validator set is small and closely tied to the team. In March 2025, they delisted the JELLY token and settled positions at a price they picked to stop a manipulation attempt. It protected the platform, but showed a few people can override the market. The same SEC guidance that legitimized tokenized stocks also says they're securities, and Hyperliquid offers them offshore without SEC registration. Stricter enforcement could turn that growth driver into a problem. And it all depends on activity. If volume dries up, both buyback engines slow down. With all that said, what you do with this info is up to you. And if I missed something or got anything wrong, drop it in the comments. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

sylsau

**🚨 Crypto’s biggest breakthrough may be making crypto disappear.** Samsung’s planned USDC rollout could reach **82 million compatible U.S. Galaxy devices.** Most consumers don’t want a blockchain tutorial. They want to send $200. A familiar wallet could handle the action while the infrastructure works underneath. Here’s the power shift: when users stop caring which blockchain moves their money, the company controlling the interface gains influence. **The next financial battle may be over who owns the Send button.** Who captures the value when crypto becomes invisible?

4-1Good-79

You can keep your BTC and use it as collateral to borrow USDC

Constant_Low_256

Bro want me to send you 20 USDC to buy some food?

1moreApe

I dont know where ur funds are. If onchain use Jumper to receive USDC in Arbitrum. In HL just use the deposit option. Takes 1 minute

Mediocre_Job8085

CBDC vs stablecoin, the short version: A stablecoin is a crypto token (on Ethereum, Tron, Solana, etc.) that tries to hold parity with a fiat currency, usually the dollar. Two dominant models: fiat-collateralized (USDT/USDC — an issuer holds reserves and mints/burns tokens) and crypto-collateralized (DAI — overcollateralized with crypto locked in smart contracts). The peg is a promise plus arbitrage, not law. A CBDC is digital fiat issued directly by a central bank. It's a liability of the central bank itself — like cash, but electronic. No issuer company, no private balance sheet to trust. Practical differences that matter: - Who controls it: stablecoins are run by companies (Tether, Circle) with their own custody and freeze abilities; a CBDC is controlled by the state. - Censorship: both USDT and USDC have frozen addresses at issuers' or authorities' request; a CBDC bakes programmability in at the protocol level — the design space includes expiry, usage limits, or negative rates. - Settlement: stablecoins settle on public chains, finality depends on the chain; a CBDC settles on the central bank's own ledger. - Traction so far: stablecoins have real adoption (hundreds of billions in circulation, used for payments and trading); retail CBDC pilots like the e-CNY have seen limited uptake. One-liner: a stablecoin is a private IOU for dollars living on a public blockchain; a CBDC is the dollar itself in digital form, living on the central bank's system.

CycleBelly

Definitely look into KiiChain! It's designed specifically around local-currency stablecoins so people can transact in their native currencies without paying huge bank FX fees or forcing everything into USDC.

Dangerous-School212

Question that’s probably been asked a lot but don’t have the time to read all posts. Ok.. May sound stupid but bitcoin went up today should I take the daily gains and put it in my USDC, and when it goes back down put it back into bitcoin? Same question i guess for ZCASH. Right now losing everything even my home due to separation with an ass🕳️ .. Please i appreciate advice, It’s now like I even have 1/2 of a bitcoin. Thank You.

Dangerous-School212

Question that’s probably been asked a lot but don’t have the time to read all posts. Ok.. May sound stupid but bitcoin went up today should I take the daily gains and put it in my USDC, and when it goes back down put it back into bitcoin? Same question i guess for ZCASH. Right now losing everything even my home due to separation with an ass🕳️ .. Please i appreciate advice, It’s now like I even have 1/2 of a bitcoin. Thank You.

pitalik

Usdc issuer circle just deposited $14.5m into hyperliquid, to fund HYPE buybacks and burn. $14.5m is the monthly yield on over 6b in USDC on hyperliquid. That is more than 10% of all usdc in existence, on hyperliquid

Present_Let2487

If the USDC transactions are confirmed on-chain, I’d probably just wait a bit and contact SimpleSwap if the bigger one still hasn’t arrived, weird that some of the smaller swaps went through while others are stuck.

Ok_Lunch1400

CCTP bridge your USDC to Arbitrum One -> Deposit on Hyperliquid